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What is a Target Market? A target market is a group of consumers or organizations most likely to buy a companyâs products or services. Because those buyers are likely to want or need a companyâs offerings, it makes the most sense for the company to focus its marketing efforts on reaching them. Marketing to these buyers is the most effective and efficient approach. The alternative - marketing to everyone - is inefficient and expensive. Finding Your Target Market
Define a Target Market in Your Business Plan. To define a target market for your business plan, you should research the potential buying audience for your product. This could range from millions of people if you are starting an online business, to a few thousand individuals if you are opening a retail store in a small town.